Mastercard's Chief Product Officer: Stablecoins are far from being supported by technology alone to support their adoption as a payment tool

On July 15, according to Bloomberg, Mastercard Chief Product Officer Jorn Lambert stated that although stablecoins have technical advantages such as high speed and low cost, they still face challenges such as user experience and channel coverage to achieve daily payments. Currently, about 90% of stablecoin transactions are still concentrated in crypto asset trading.

Lambert emphasized that technology alone is far from enough to support the popularity of (stablecoins) as a payment tool. Mastercard is positioning itself as a bridge connecting traditional finance and digital assets, and has partnered with institutions such as Paxos to support various stablecoins, including $USDC, $PYUSD, etc., and plans to provide stablecoin scaled application infrastructure through its global merchant network and security compliance capabilities.